Net profit of JSC Valmieras stikla šķiedra in 8 months 2008 reached LVL 592,000 (EUR 842,000), although a loss was budgeted. The company achieved this by means of successful production, investments, and innumerable measures for increase of efficiency in all production segments and departments. Net turnover in 8 months amounts to 27.445 million lats (EUR 39.05 million). EBITDA amounts to a considerable 20% of gross income, inventory increase included, or 5.69 million lats (8.1 million EUR). The company never reached such a high result before: last year, EBITDA was 16,6%. This year, JSC Valmieras stikla šķiedra launched an investment project about 7.4 million lats (EUR 10.5 million), which is to be finished within the coming six months. The shareholders, trusting in the company's sustainability, resolved on implementation of the scheduled reconstruction of a glass fibre furnace and increase of its output by 50%. Despite the enormous amortisation/depreciation, which increased by more than 50% after the investments of 2006 (24 million. lats or EUR 36 million), JSC Valmieras stikla šķiedra expects to close 2008 with a net profit of LVL 800,000 (EIR 1.138 million), while gross turnover is to reach about 41 million lats (EUR 58 million). JSC Valmieras stikla šķiedra Controller Lauma Tjuniņa Phone +371 64202222 Mobile +371 26441429 Fax +371 64281216 lauma@vss.lv